First BanCorp. (NYSE:FBP) EVP Sells $951,203.69 in Stock

First BanCorp. (NYSE:FBP) EVP Carlos Power sold 45,797 shares of First BanCorp. stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $20.77, for a total transaction of $951,203.69. Following the completion of the transaction, the executive vice president now owns 186,543 shares of the company’s stock, valued at $3,874,498.11. The trade was a 19.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Carlos Power also recently made the following trade(s):

• On Friday, February 7th, Carlos Power sold 10,321 shares of First BanCorp. stock. The stock was sold at an average price of $20.75, for a total transaction of $214,160.75.

First BanCorp. Trading Down 1.2 %

First BanCorp. stock traded down $0.25 during midday trading on Friday, reaching $20.83. The stock had a trading volume of 577,199 shares, compared to its average volume of 985,140. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a fifty day moving average of $19.63 and a 200 day moving average of $20.27. First BanCorp. has a 52-week low of $16.12 and a 52-week high of $22.40.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. First BanCorp. had a return on equity of 18.89% and a net margin of 24.37%. During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s dividend payout ratio (DPR) is presently 35.36%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Hovde Group reduced their target price on shares of First BanCorp. from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Wells Fargo & Company decreased their price target on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Finally, Piper Sandler dropped their price objective on First BanCorp. from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.40.

Hedge Funds Weigh In On First BanCorp.

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its position in shares of First BanCorp. by 3.9% in the third quarter. State Street Corp now owns 9,193,684 shares of the bank’s stock valued at $194,630,000 after purchasing an additional 347,271 shares during the period. Geode Capital Management LLC lifted its stake in First BanCorp. by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,386,606 shares of the bank’s stock valued at $92,879,000 after buying an additional 112,432 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in First BanCorp. by 1.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,169,168 shares of the bank’s stock worth $24,751,000 after buying an additional 16,432 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of First BanCorp. by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 926,097 shares of the bank’s stock valued at $17,216,000 after acquiring an additional 37,432 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of First BanCorp. by 2.9% in the third quarter. Algert Global LLC now owns 676,749 shares of the bank’s stock valued at $14,327,000 after acquiring an additional 19,290 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

First BanCorp. Company Profile

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to consumers and commercial customers. The company operates through six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.